Originally posted by clackers Yeah, wasn't it a semi-hostile takeover?
Only semi-hostile?
I've only seen some fragments, but it was an ugly affair - pushed by SPARX (which unfortunately was a Pentax Co major shareholder) and Hoya (wanting Pentax' medical division and nothing else).
Just some of those fragments:
- the then-CEO responsible for arranging the deal with Hoya - Mr. Fumio Urano - was forced to step down
after the public announcement (of the Pentax-Hoya merger, which was the initial idea). Pentax' board tried to resist this merger; but if they knew well beforehand - as implied by Thom's "rumors of sales" - why did they react so late? Why let the initial announcement happen?
- Pentax Corporation tried to find a "white knight" to resist the takeover (again, a major shareholder was involved); nobody helped. OTOH, Fujifilm would play the white knight role for Nikon.
- to kill any idea that it was anything than a hostile takeover: "In response, Pentax said it is against the reinstatement of the two officials on grounds that the tactics they used to push for the merger were heavy-handed and unfair."
https://www.japantimes.co.jp/news/2007/04/28/business/pentax-to-resist-execs.../#.WUDRemiGP8s
A more apt comparison would be Sony buying into Olympus.